ExxonMobil fined $11.9 billion in gas royalty dispute

A jury Nov. 14 ordered ExxonMobil Corp. to pay $11.9 billion in damages to Alabama after finding the company committed fraud by underpaying gas royalties for Mobile Bay state leases.The punitive damages were $2 billion higher than even the state had asked for and ExxonMobil officials said the verdict was excessive and it would appeal."The company did not engage in fraud, no evidence of fraud was established at trial, and fraud should never have been considered by the jury," said Sam Franklin, lead counsel for ExxonMobil. "The punitive award in this case defies common sense."In addition to being unjustified, the $11.9 billion punitive award is excessive—more than 180 times the $63.5 ...

Why Register?

Non-subscribers can only view whitepapers by providing name, home and email address, phone number and other information and comment on/rate articles.

Why Subscribe?

Oil & Gas Journal subscribers with login credentials can access these premium features of OGJ Online:

  • Current Issue – an html version of the current week's issue of Oil & Gas Journal.
  • Past Issues – An Electronic OGJ Archive. A keyword-searchable archive of all issues of Oil & Gas Journal dating back to 1990; also searchable by issue date.
  • Market Journal – a weekly round-up of the oil and gas markets, with observations from leading analysts.
  • Editor's Perspective – a short article of insight and opinion by the Editor of Oil & Gas Journal.
  • OGJ Industry Stats – quick access to current industry statistics from Oil & Gas Journal.
  • OGJ Survey Downloads - quick access to exclusive reports from Oil & Gas Journal.


Subscriber Help or Subscribe

Oil & Gas Journal Subscribers: Have your subscription number (from the mailing label on the cover of your Oil & Gas Journal) and e-mail address ready to set up your online account through Customer Service Assistant.

If you're not an Oil & Gas Journal subscriber, start a subscription and gain access to the subscriber areas of OGJ Online now.

Stay Connected